Inheritance and gift tax
State tax ceded to Autonomous Communities that levies gratuitous acquisitions inter vivos (gifts) and mortis causa (inheritances). Reductions and rebates vary significantly by Autonomous Community: some offer up to 99% rebate on direct inheritances. Filing deadline: 6 months (extendable) for inheritances.
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Other Tax law terms
Mandatory electronic invoicing system from AEAT requiring invoicing software to guarantee integrity, preservation, traceability and unalterability of billing records.
AEAT procedure to verify compliance with tax obligations. The taxpayer has the right to legal counsel, copies of proceedings and a maximum 18-month timeframe.
Quantity resulting from measuring the taxable event, to which the tax rate is applied to determine the tax liability. Example: in personal income tax, it is the sum of net income minus reductions.
Legal assumption whose occurrence gives rise to the tax obligation. Example: in VAT, delivery of goods or provision of services; in property transfer tax, transfer of real estate.
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